Europe’s Central Bank Is Wise to Be Patient With Low Inflation

What, me worry?

Photographer: Alex Kraus/Bloomberg

Mario Draghi is not among the doubters.

The European Central Bank president dismissed the notion that Europe is in an era of low inflation. "There is no question," he said when asked whether price increases in the euro zone will return to the bank's target of close to but just below 2 percent. 

At some time. We just need to be patient. It was a good question, from Italy's Repubblica newspaper, because the issue is at the heart of what central banks in major economies are wrestling with: increasingly solid economic growth isn't leading to a meaningful pickup in wages and inflation.